Precinct Investments, the company behind the Gresham Hotel Group, is to secure additional banking facilities from Anglo Irish Bank. New filings at the Companies Office show that the Gresham Group will mortgage and charge 77 Marlborough Street in Dublin under a supplemental debenture as part of a deal.

"The purpose of the financial assistance is to enable the parent to maintain the existing facilities," the documents state. Anglo had provided an initial term loan to Precinct in May 2004 of not more than €83m and a second term loan of not more than €44m but these had been amended and reduced since then.